Analysts Set Hydro One Limited (TSE:H) PT at C$50.10

Shares of Hydro One Limited (TSE:H - Get Free Report) have been given a consensus recommendation of "Hold" by the nine analysts that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$50.10.

A number of equities research analysts have issued reports on H shares. CIBC cut their target price on shares of Hydro One from C$52.00 to C$51.00 in a research report on Monday. Desjardins set a C$58.00 target price on shares of Hydro One and gave the company a "buy" rating in a research note on Tuesday, May 6th. BMO Capital Markets raised their target price on shares of Hydro One from C$46.00 to C$50.00 and gave the company a "market perform" rating in a research note on Friday, May 9th. Raymond James Financial decreased their price target on shares of Hydro One from C$48.00 to C$45.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Finally, Jefferies Financial Group raised their price target on shares of Hydro One from C$45.00 to C$49.00 and gave the stock a "hold" rating in a research note on Tuesday, April 15th.

Hydro One Stock Performance

Hydro One stock traded up C$0.06 during mid-day trading on Thursday, hitting C$48.79. 567,051 shares of the company's stock traded hands, compared to its average volume of 1,035,790. The firm has a 50 day moving average price of C$49.35 and a 200 day moving average price of C$48.13. The company has a market cap of C$29.25 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a one year low of C$42.07 and a one year high of C$53.98. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53.

Hydro One Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a dividend of $0.3331 per share. This is a positive change from Hydro One's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $1.33 annualized dividend and a yield of 2.73%. Hydro One's dividend payout ratio (DPR) is presently 66.44%.

About Hydro One

Hydro One operates regulated transmission and distribution assets in Ontario. The area's largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company's rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results.